Capital World Investors Has $260.50 Million Stake in General Mills, Inc. $GIS

Capital World Investors increased its position in shares of General Mills, Inc. (NYSE:GIS) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,602,094 shares of the company’s stock after purchasing an additional 16,984 shares during the quarter. Capital World Investors’ holdings in General Mills were worth $260,497,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in General Mills during the 3rd quarter worth approximately $25,000. Close Asset Management Ltd acquired a new stake in General Mills during the 3rd quarter worth approximately $28,000. Bruce G. Allen Investments LLC lifted its holdings in General Mills by 139.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after purchasing an additional 337 shares during the last quarter. Binnacle Investments Inc lifted its holdings in General Mills by 312.5% during the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares during the last quarter. Finally, Kelleher Financial Advisors acquired a new stake in General Mills during the 3rd quarter worth approximately $34,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GIS. Evercore set a $45.00 price target on General Mills in a report on Wednesday, February 18th. Royal Bank Of Canada dropped their price target on General Mills from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, March 19th. Piper Sandler dropped their price target on General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Wells Fargo & Company dropped their price target on General Mills from $33.00 to $30.00 and set an “underweight” rating for the company in a report on Monday, May 18th. Finally, Zacks Research lowered General Mills from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, General Mills presently has a consensus rating of “Reduce” and a consensus target price of $39.39.

Insider Buying and Selling at General Mills

In related news, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the sale, the insider owned 62,283 shares in the company, valued at $2,148,763.50. The trade was a 11.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value of $342,700.00. Following the sale, the insider owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.30% of the company’s stock.

General Mills Trading Down 0.1%

Shares of GIS opened at $33.13 on Tuesday. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $55.19. The business’s fifty day moving average is $34.75 and its 200-day moving average is $41.34. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. The firm has a market cap of $17.68 billion, a price-to-earnings ratio of 8.10 and a beta of -0.03.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a net margin of 12.05% and a return on equity of 19.19%. The business had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the previous year, the business posted $1.12 EPS. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities analysts anticipate that General Mills, Inc. will post 3.43 EPS for the current fiscal year.

General Mills Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.